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Joseph Tsai, Crypto Investor, to Become Chairman of Alibaba

June 20 (Cointime) - Joseph Tsai, a co-founder and current executive vice chairman of Alibaba, will be taking over as the company's chairman. Tsai, who is known for his interest in cryptocurrency, has invested in FTX and other crypto startups through his family office, Blue Pool Capital.

This announcement comes amidst speculation that China may lift its restrictions on crypto, after a recent whitepaper promoting web3 as the future was published by Beijing. Alibaba is a major player in the Chinese e-commerce market, with a market capitalization of $236 billion.

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